Dow futures unchanged, PayPal falls 5.2% following results 2023

In the evening trades on Monday, U.S. stock futures were trading within a narrow range, following a day in which major benchmark averages showed a mixed performance. Market players were preparing themselves for significant inflation data that was scheduled to be revealed on Wednesday’s session.

At 19:15 Eastern Time (23:15 GMT), the Dow Jones futures were unchanged, while the S&P 500 futures and the Nasdaq 100 futures both saw a 0.1% decline.

On the bond markets, the interest rate on the United States 10-Year was at 3.507%.

After reporting earnings per share for the first quarter of $1.17, which were higher than the projected $1.10, and sales for the first quarter of $7.04 billion, which were higher than the expected $6.98B, PayPal (NASDAQ:PYPL) fell by 5.2% in extended trading. The business projected an earnings per share range of $1.15 to $1.17 for the second quarter of 2023, compared to the expected figure of $1.17.

After announcing Q1 losses of $0.43 compared to analyst projections of $0.39, Lucid Group Inc (NASDAQ:LCID) shares dropped 8.7%. The company also announced sales of $149.4 million, which was lower than the $199.35 million that was expected.

The share price of Palantir Technologies Inc (NYSE:PLTR) increased by 22.2% after the company said that its first-quarter earnings per share were $0.05, which was higher than the expected $0.04, and that its revenue was $525 million, which was higher than the projected $505.82 million.

Investors will be looking ahead to the NFIB small business optimism report as well as remarks by the Federal Reserve’s Jefferson and the Federal Open Market Committee’s Williams on Tuesday.

Fox Corporation (NASDAQ:FOXA), Nikola Corporation (NASDAQ:NKLA), Airbnb Inc. (NASDAQ:ABNB), and Rivian Automotive Inc. (NASDAQ:RIVN) are some of the businesses that are expected to release their quarterly profits today.